Bookkeeping & Accounting Services

• Monthly user-friendly financial reports that you can actually understand (see below)
• Year over year comparison reports show you how your business is growing.

Your MK&A accountant will take the bookkeeping transaction data for your business in our database and generate customized, user-friendly reports for your review. Knowing where your business spends its money, which customers are your most profitable ones and how your clients pay their fees to your business will help you to be able to predict future finances so that you can profitably grow your business in the coming months and years. Here are some of the most common financial reports prepared by MKA that small businesses may use:

1. Balance sheet: This report provides a snapshot of a company’s financial position at a specific point in time. It shows the company’s assets, liabilities, and equity.
2. Income statement: This report shows a company’s revenues and expenses over a specific period of time. It provides information about the company’s profitability.
3. Cash flow statement: This report shows the inflows and outflows of cash for a specific period of time. It provides information about the company’s liquidity.
4. Accounts receivable aging report: This report shows the amounts owed to the company by its customers, broken down by the length of time the amounts have been outstanding.
5. Accounts payable aging report: This report shows the amounts owed by the company to its vendors, broken down by the length of time the amounts have been outstanding.
6. Profit and loss statement: This report shows the company’s revenues, expenses, and net income or loss over a specific period of time.